Intel (Intc) Q4 Earnings Report 2024

Intel Issued disappointing quarterly guidance on Thursday, but reported on earnings and revenue that topped estimates.

This is how the company did in the fourth quarter compared to LSEG stimates:

• Earnings per Stock: 13 cents adjusted vs. 12 cents expected
• Revenue: $ 14.26 billion against $ 13.81 billion expected

Intel’s revenue dropped for a third equal quarter, which dropped 7% from a year earlier, according to a declaration. The company’s net loss for the quarter amounted to $ 126 million, or 3 cents per year. Share, compared to a net income of $ 2.67 billion or 63 cents per year.

It is the chipmaker’s first earnings report since announcing Pat Gelsinger’s departure as CEO. Gelsinger, who took the help of the CEO, had a brutal period in which he gave up market share to competitors and fell far behind the artificial intelligence, while obliging billions of dollars for production facilities.

Intel appointed two temporary Co-CEOS, Finance Manager David Zinsner and Intel Products CEO Michelle Johnston Holthaus, to follow Gelsinger.

“Dave and I take actions to improve our competitiveness and create shareholder value,” Johnston Holthaus was quoted as saying in Thursday’s release.

Adjusted results exclude stock-based compensation, acquisition-related adjustments and interest on a canceled fine from the European Commission.

Intel said it will report the BREAKEVEN -surplus for the first quarter with a revenue of between $ 11.7 billion and $ 12.7 billion. The LSEG consensus was $ 12.87 billion in revenue and 9 cents in adjusted earnings per year. Stock.

Management pointed to seasonal determination, financial conditions and competition, and the mentioned clients digest the inventory.

Intels Client Computing Group, which sells PC Chips, produced $ 8.02 billion in revenue in the tax fourth quarter. Revenue declined 9% years over years, but over consensus of $ 7.84 billion among analysts examined by StreetAccount.

Data Center and Artificial Intelligence Segment, providing processors to sky providers and corporate server holdings, generated $ 3.39 billion in revenue. It was down with 3% and inline with Streetaccount’s consensus of $ 3.38 billion.

Intel’s network and edge unit contributed $ 1.62 billion in revenue, up to 10% and over consensus of $ 1.5 billion from StreetAccount.

During the quarter, Intel completed a US $ 7.86 billion US government support in support of manufacturing in four states.

Before Thursday’s close Intel Shares were flat for the year, while the S&P 500 index increased approx. 3%.

Leaders will discuss the results with analysts at a conference call that starts at. 17 et.

This is breaking news. Please check back for updates.

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